Looking at a 2001 Virage for 500.00, should I buy it ?

Hi guys,
I just ran across a guy with a 2001 Virage 700cc carbed that needs a CDI and a thru hull bearing, he said I could have it for 500.00.
The story he told me is that he got the engine rebuilt, took it out for a ride in salt water and his thru hull bearing failed and the ski started to sink. He got water in his electronic box that he forgot to close up tight, and his CDI went out.
Now he doesn't have the time to fix it. Got it towed in and cleaned up, but it won't start cause of the cdi being bad.
The ski comes with a trailer, do you think I should take on the project? I'm thinking it may be worthwhile to give it a try, possibly the CDI is still good and something else got wet and caused the failure. The only CDI's I see are about 450.00 on Ebay, ( New), I'm thinking I could find a used one for a lot less and get the thru hull bearing parts and do the work myself. What do you guys think?

p.s. I asked him if the ski took water in above the airbox, and he said it did not.

Ok, got the ski for 450 total,
It Came with a trailer and an extra used Carb. Today I ordered:
New sealed battery 75.00
Thru hull bearing kit 25.00
and the CDI and electrical box
Lets see what we have in a few days, meanwhile I will clean it up a bit Photos will follow.